5 banks to lend 1.4 tril. yen to Japanese fund for Toshiba buyout

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Kyodo News

Sumitomo Mitsui Banking Corp. and four other Japanese banks will lend a total of around 1.4 trillion yen ($10.6 billion) to a domestic investment fund to help it buy out Toshiba Corp., a source familiar with the matter said Thursday. A document promising the combined loan will be sent next week to Japan Industrial Partners Inc., which has already secured an investment offer worth about 1 trillion yen from a group of more than 20 Japanese companies, including Orix Corp. The acquisition of the embattled conglomerate is expected to total between 2.2 trillion yen and 2.5 trillion yen. Japan Indust…

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